缺乏承诺下的预期导致过度增长

IF 0.7 4区 经济学 Q4 ECONOMICS
Gerhard Sorger
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引用次数: 0

摘要

我们研究了一个简单的资产积累问题,其中瞬时效用不仅取决于当前的消费,而且取决于预期的未来消费。首选项的这个特性使它们动态地不一致。我们在假设决策者(i)意识到动态不一致性和(ii)缺乏承诺能力(复杂方法)的情况下求解模型。结果表明,这些假设下的资产增长率总是超过承诺下的相应增长率。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

Anticipation under lack of commitment leads to excess growth

Anticipation under lack of commitment leads to excess growth

We study a simple asset accumulation problem in which instantaneous utility depends not only on current consumption but also on anticipated future consumption. This feature of the preferences renders them dynamically inconsistent. We solve the model under the assumptions that the decision maker (i) is aware of the dynamic inconsistency and (ii) lacks commitment power (sophisticated approach). It is shown that asset growth under these assumptions always exceeds the corresponding growth rate under commitment.

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CiteScore
1.10
自引率
0.00%
发文量
34
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